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Article: Mercury Announces Tender Offer For Up to 17,000 Units of LAACO, Ltd.

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PR Newswire
Article date:
May 17, 2005
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GREENWICH, Conn., May 17 /PRNewswire/ -- Mercury Real Estate Advisors LLC, on behalf of certain managed funds (collectively "Mercury"), today commenced a tender offer to purchase up to 17,000 Units of Limited Partnership of LAACO, Ltd. (LAACZ) for a purchase price of $800.00 per unit, net to the seller in cash. This tender price represents a premium of over 24% over the last reported trade price of $645.00 for approximately 9.7% of the currently outstanding 175,907 Units of Limited Partnership.

The tender offer is an element of Mercury's overall investment strategy, rather than an attempt to acquire or influence control over the business of LAACO, Ltd. The ...

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